"Economic Recession, Performance Prospect and Corporate Social Investment"
Bibliographic record
Abstract
Drawing on the behavioral theories and CSR literature, this research examines the effects of the economic recession and corporate financial performance (CFP) on firms’ investment in CSR between 2003 and 2011. We theorize that the recession and corporate financial performance, independently and jointly, determine firms’ CSR investment by influencing decision- makers’ perception and risk-taking propensities. Our analysis of a large number of publicly traded companies shows that firms reduced their CSR efforts following the recent economic recession. As for the effect of financial performance, the results showed that a firm’s investment in CSR increased when its financial performance prospect falls below its historical and industry performance targets, in the pre-recession period. In the post-recession period, however, its CSR efforts decreased precipitously as a firm’s financial performance is expected to fall farther below its historical or industry targets. These dissimilar behavioral patterns support an increasing impact of organizational rigidity at the presence of perceived threats. Similar depressing effect is also found among the firms whose expected performance exceeded their historical targets in the post-recession.. This study makes contributions to the CSR literature by incorporating the behavioral perspectives into CSR investment decisions.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.004 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".